Nick Bunker is the Economic Research Director for North America at the Indeed Hiring Lab who focuses on the U.S. labor market. He was previously a Senior Policy Analyst at the Washington Center for Equitable Growth, an economics think tank. Prior to that, Nick was a Research Assistant at the Center for American Progress. He holds a B.S.F.S. in international economics from Georgetown University.
A rise in more permanent forms of unemployment would mean the economy is far less likely to bounce back quickly.
The US economy gained 2.5 million jobs last month, and the unemployment rate is at 13.3%, down from 14.7% in April.
The cumulative change in employment since the pandemic began will give us a clearer picture of which industries have been hit hardest.
The slowdown in job postings on Indeed is not only deep, but broad. Only 2.7% of all job titles are growing faster than their 2019 trend.
The Indeed Hiring Lab is an international team of economists who provide insights that help drive the global labor market conversation.
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